|Asking price: $880,000
Size of the lot: 8,712 m2
Size of construction: 1,038 m2
The business was run as a B&B for six years. On May 1st, 2011, the owners closed this business and remodelled the rooms. Two of the biggest guest rooms were turned into apartments with kitchen, the other guest rooms were also upgraded. On July 1st, 2011, the business was reopened in form of an apartment rental (without breakfeast) for short and long-term rentals.
A prospective buyer would have the following options:
- Taking over the property and business and run it as it is (as an apartment/guest house rental).
- Reopen as a B&B or small hotel (space and facilities are available).
- The big entry hall with its adjoing room and terraces could be easily turned into a restaurant.
- Using it as a private villa with or without guesthouses. (For this purpose it was built originally).
The property at the hillside on the north-eastern side of El Valle. The single buildings are layed down in terraces. At the highest point you will find the main building. From there you have a spectacular view over the whole valley.
This construction has originally been built in the 1960ies by a Danish canal pilot, which explains the solid type of style. Later a Panamanian vice president used it as his weekend villa. The present owners bought this property ten years ago and remodelled it.
|In particular the construction forms as follows:
- Mainbuilding, where also the owners live: The big hexagonal hall, also used as a library, is adjoined by three bedrooms, four bathrooms, kitchen, dining room, office, laundry, the breakfast terrace and further terraces. The spacious bedrooms are furnished with a fireplace.
- Two apartments with kitchen and four guest rooms, each with bathroom and terrace.
- Swimmingpool (40ft)
- External, completely equiped kitchen for the guests
- A 2-room-house where the gardener was living
- An additional remodelled house (1 bedroom, 1 bathroom) that is rented at the moment
- A large garden with lots of tropical plants, trees and a kitchen garden
- Car park
The business has an excellent reputation (Fodors Travel Choice Award 2010, Tripadvisor...). In opposite to the most hotels in Panama the business is hardly touched by seasonal fluctations. Besides of tourists the main clients are businessmen from Panama City who book regularly and all around the year.
The business and property are held in a corporation. By buying this property you will receive the corporation including all business licences, too. The property will be sold completely furnished.
Please note that the asking price is at least $100,000 lower than the market price for real estate in this area! And this is only the price for the property. In other words: you will get the business and the inventory for free!
Special feature: This property is released from property tax till 2029!